When can ETH be changed to PoS? Will ETH go to zero?

When can ETH be changed to PoS? When can ETH be changed to PoS?

Ethereum founder Vitalik Buterin recently expressed in his Twitter that he hopes ETH can now be changed to PoS. If one day he really changes this decision and ETH can now be converted in the contract, then his proposal is supported:

1. Set ETH staking as a fee-free withdrawal fee;

2. Increase the ETH-stake balance from 1 million to 10 million, which will not be used for transfers;

3. Reduce ETH’s Slashing parameter from 50 blocks to 25 blocks (this is the current network state);

4. Before the fork, we should run our nodes in a pattern similar to PoW mining: staking and burning.

Will ETH go to zero?

Editor’s note: This article is from Hexun Finance News (ID:fengchao-caijing), author: JXkin, authorized reprint from Odaily Planet Daily.

From the skyrocketing of the price of ETH to the price drop and now the market value is only over 100 million US dollars, ETH has fallen by more than 70%… What does this mean for ETH? I think this is an interesting and historically significant drama-will ETH go to zero? If so, will it continue to decline or even die on the Ethereum blockchain! Currently, ETH has been called “digital gold”, and its value may have decreased compared to other cryptocurrencies. (Note: According to Cointelegraph, ETH founder Vitalik Buterin recently revealed his plan, and the team hopes to replace BTC with Bitcoin and Ether.)

However, whether this plan can be successfully implemented remains to be seen. Let’s take a look at the eth2.0 contract code first:

https://etherscan.io/address/0x9f7ae0c5d4bf8b2bacf3df6be39febdff25fcdaf88b69cee

This is about the merged Ethereum. According to the official announcement from ETH, before sharding, the Ethereum network can achieve at least twice the throughput and can process tens of millions of transactions at the same time. Therefore, confirmation is required when the Ethereum network can process 100,000 transactions per second. Due to the existence of a large number of validator defects under the current network state, the delay time is long, making it increasingly difficult for nodes on the Ethereum chain to obtain effective services. Therefore, in order to allow users to access their node data safely, the eth1.0 client is building a new version of smart contracts.

After the mainnet upgrade is completed, it is expected that the Ethereum network will launch the PoS mechanism in the fourth quarter of 2020. In addition, ETH holders can also earn income by staking 32 ETH or less. Although eth1.0 has been officially launched through the EIP1559 proposal. However, ETH is still in its early stages and its future development direction is still very unknown. Why lock ETH as an asset? It’s simple, you can unbind your ETH balance after depositing money, thus avoiding loss. You can put money in a bank account and then exchange it with ETH for fiat currency or stablecoins at any time, or use these funds to buy ETH. This way, you don’t have to worry about the devaluation of ETH, and you can directly borrow ETH for fiat currency just like mortgaging fiat currency. If you want to short your own ETH, just put ETH in the safe deposit box, because you can’t keep depositing until it returns to zero again.